Purchasing a property with a 4br with 4 individual tenants

Oakland, California
Oakland Real Estate Forum
8yFollow

Purchasing a property with a 4br with 4 individual tenants

Kal Stevens
Member since 2018 · 4 posts · 0 votes

I am trying to purchase a property that has 7 units, one of which is a 4BR, with 4 individual leases.

That is fine for now, but my property management says that they will not place a  new tenant in that unit because of liability.

So my question is what are my options on this when one of those tenants moves out?

0Reply
11 views

2 Replies

Jump to latestLatest
  • Angelou Masters
    Investor · Oakland, CA · Member since 2012 · 41 posts · 22 votes
    8y

    I hope I'm wrong but those 4 individual leases can become very problematic and expensive! Oakland's leadership does not believe in any owners rights and with the free legal help tenants get, they might as well own your property.

    0Reply
  • Brian Garlington
    Realtor · Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility · Member since 2016 · 2k+ posts · 2k+ votes
    6y

    @kal stevens 

    Is it a 4BR with 4 Individual leases AND 3 other units in this 7 unit place? 4 individual leases in any 4 bedroom spot sounds like a college rental? Is that what the case is here?

    0Reply
Join the conversationCreate a free account to reply, vote on answers and follow this thread.
Log InJoin for Free